By Alex C Real estate has benefited from the improving performance of Nigeria’s economy in the past 12-18 months, having seen a significant appreciation in the value of prime property, especially land, in highbrow locations. Recent report on the Lagos real estate market in the third quarter of 2014 compiled by MCO Real Estate Limited, a Lagos-based real estate research and consultancy firm, reveal that Eko Atlantic City and Banana Island have shown strong price appreciation of about 22 percent over the past year. According to the report, whereas the mature Ikoyi market has not shown any appreciation in value…
Author: Pride Team
By Alex C United Bank for Africa (UBA) plc has announced a deal with Ixaris and its Nigerian partner “Ojapay” to deploy a virtual card platform across its 20 African markets. UBA will use Ixaris payment server to deliver innovative payment options for individuals and corporates. The e-commerce market in Africa is predicted to reach $75 billion by 2025. Presently, many consumers and businesses across the continent currently lack a secure, convenient and low-cost means to make purchases online. To take a share of the market opportunity, UBA selected Ixaris Payments Server to quickly and cost-effectively deploy payments programmes based…
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By Alex C Oasis Insurance plc third quarter (Q3) profit has risen by 113.9 percent as the Nigerian insurer continues to grow through its market penetrating products, analysis of the financial statement shows. The impressive result beats analysts estimate, given the environmental challenges bedeviling the industry. For the nine months through September 2014, Oasis pretax profit surged by 113.9 percent to N238.94 million, from N111.72 million the same period of the corresponding year (Q3) 2013. The company also recorded impressive result at the top-line level as gross premium written increased by 13.70 percent to N1.31 billion, as against N1.15 billion…
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My dear son, When I was in my teens, the following story was told to me. If I tell the truth, I am not sure I intuited into the import of the story then. The deep wisdom embedded in this story is well worth reflecting on, so that one is guided by it as one journey’s through life. “Once a fisherman was sitting near a seashore, under the shadow of a tree relaxing and drinking some palm wine. Suddenly a rich businessman passing by approached him and enquired as to why he was sitting under a tree with a bottle…
The Ministry of Defence of South Africa has unwittingly left out of the bag the existence of a secret spy satellite project that has been kept under wraps for years. Secretary of Defence Sam Gulube, lifted the veil on the “military satellite”, said to be Africa’s only top secret spy satellite when he referred to it under parliament’s portfolio committee on defence. The South African government machinery has been in over drive to cover up the project following an admission regarding its existence parliament. This spy satellite is considered one of the department of defence’s items of “fruitless and wasteful expenditure” as…
Ghana, previously perceived as a haven of continuous light, is currently experiencing between 550 and 600 megawatts of power shortfall on its national electricity grid. That, according to the Public Relations Officer of the Electricity Company of Ghana, Mr William Boateng, is the reason why the company is considering the introduction of a 24-hour power rationing schedule, under which specific areas would have power shut down for 24 hours while others have power for 24 hours. Speaking at a stake holders crisis meeting in Accra to review the power supply situation for the management of the sector to firm up…
The government of Uganda has taken the final step that will enable her join the East African one-area network currently being implemented by Kenya and Rwanda since September 1, 2014. This follows a letter that Uganda’s Minister of State for Finance (privatization), Aston Kajara wrote to the Minister of Information and Communication Technologies, John Nasasira. The letter entitled “Proposal to Remove Excise Duty on International Incoming Calls originating and Terminating within the Northern Corridor Region”, referred to the directive of the July 3, 2014 Summit of the Northern Corridor Integration in Kigali, Rwanda to the partner states to implement the…